Wednesday September 17, 2014
February 6th, 2014
Rising inequality has obvious economic costs: stagnant wages despite rising productivity, rising debt that makes us more vulnerable to financial crisis. It also has big social and human costs. There is, for example, strong evidence that high inequality leads to worse health and higher mortality.
But there's more. Extreme inequality, it turns out, creates a class of people who are alarmingly detached from reality - and simultaneously gives these people great power.
Much of the substance and tone of President Barack Obama's State of the Union address this week are predictable. So is the reaction: It won't change many minds or political stands.
The 32,400 employees at Goldman Sachs averaged $383,374 each last year, the Wall Street banking giant has just disclosed.
Typical employees at Goldman, of course, didn’t take home anything near that $383,374. Bank clerks nationally only average $24,100 a year. In 2012, Goldman CEO Lloyd Blankfein took home $26 million. This means he’s making over 1,000 times that of the lowest paid Goldman Sachs employees.
When Woody Allen received a Golden Globe award for lifetime achievement a few weeks ago, there was a lively debate about whether it was appropriate to honor a man who is an artistic giant but also was accused years ago of child molestation.
When President George W. Bush was considering candidates to be chairman of the Federal Reserve in the autumn of 2005, the rap on Ben Bernanke, a brilliant economist, was that he had never faced a crisis, might be too soft for a challenge and wasn't politically astute.
President Obama's State of the Union address on Tuesday is about more than the final three years of his presidency. Its purpose should be to influence the next decade of American political life and begin shaping the post-Obama era.
As Barack Obama struggles to gain political traction as a lame-duck president in his remaining three years in office, the two-term limit on service in the Oval Office has encouraged a premature public focus on the identity of his successor in 2017.
Richard Sherman's no "thug." But, let's face it: He acted like one on TV.
So did the Internet trolls who denounced him with worse words than "thug."
In case you missed it, I am referring to how Sherman, a Seattle Seahawks cornerback, has given us Americans something to chatter about in the run-up to this year's Super Bowl besides football.
So you want to get high in a high-end way in the Mile High City.
You could call Dale Dyke and his wife, Chastity Osborn, a massage therapist, who run Get High Getaways. They gutted their brick house in Bel Mar and let it go to pot, refashioning it as a clothing optional, or as Dale calls it, "textile optional" bed-and-breakfast.